Sell to Retail – Why Today is the Best Time Ever to Get Your Products into Retail Chains
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To Your Success,
Karen Waksman, Retail MBA
Transcript for this Video Here:
Sell to Retail – Hey, everyone. This is Karen Waksman, founder of Retail MBA. And in this particular segment, I want to cover why I believe today, more than ever, it is the best time to get sell to retail, and why buyers need great products, and you can actually make them look good by bringing your product to them.
So let me explain. First of all, if you walk into any chain store, all the big retailers, you’ll notice that there’s always new, interesting products in those stores, especially now, more than ever. Maybe they’re on the counter area, or you’re never seeing the same product over and over again all the time. I mean, there’s always some variation, some new product coming into those stores. And the reason they’re doing that is because these chain stores are dealing with a tremendous amount of competition. There are so many other chain stores popping up everywhere, and so they have to consistently keep market share, and the way to do that is to keep their customers enticed and interested.
So if I go to a store, I don’t want to see the same thing over and over again. I want to see that next cool best product, and I want to buy more and more. That’s how our society is today, which is ultimately great for you, because it means that the buyers need that next new product. So they don’t care if you’re a large, established company. They care that you will have a product that people will buy, that they could put in their stores, that’ll keep their customers coming back. That’s what matters to them.
And if you look at it on a larger scale, if you look at who buyers are, buyers are people who work for a large company, and then a large company is all about generating revenue and growth. And so when you bring a buyer a product that could conceivably make them look good at work, because when you … If they brought your product to market and put it in their stores and your product sold out, and it generated a lot of revenue for that company, trust me: That buyer’s going to look good. Their bosses are going to love them. It’s completely something that the buyers are looking for, because they have jobs, too. They have day jobs, and they need to fulfill that job, and they need to have consistent products. New, interesting innovation in their stores that’s generating revenue for them.
So they want to know about you. They want to know about your products. They need it more than anything. It’s a never-ending funnel of desire for these retailers to get new products into stores. So this is the time, more than ever, that you need to get your products to the chain stores. And all you need right now is to understand how the buying process works, what makes a chain store more inclined to buy, how to actually pitch the buyer, and then ultimately, how to get your products in the stores, and how to handle the orders that are coming through.
And that’s what I teach in Retail MBA, my actual program that I created around this subject. And ultimately, I believe that anyone with any sales experience, with no sales experience or buyer relationships, can get their products in stores. Because if you’ve heard anything that I’ve said in my previous segments, it’s all about … When I get a product into a store, it has nothing to do with sales skills or anything. It has to do with strategy. I spent 90% of my time on strategy and 10% on sales, and that’s what I teach my students, and that’s why my students are getting products to the stores.
So again, if there’s anything I can tell you about getting your products into chain stores, is that it’s not so hard. The buyers are looking for you. You just need to set up your product right and ultimately get that product in front of them, because they will be excited to know about you. The only thing they don’t like is when you bring a product to them that’s not ready for stores and so forth. They can’t do anything with that. But if you do, if you prepare in advance, and you do the 90% strategy, you can get your products in the stores, if you really believe in this product.
So this is Karen Waksman, founder of Retail MBA, and I hope this information provided value. Please be on the lookout for the additional content that I create, and I would love your comments or feedback. And obviously, please take a look at Retail MBA, if you feel like this information is interesting to you. Thanks so much.